The $699 price from MacConnection is available only while supplies last, and they're said to be extremely limited. This model (MC968LL/A) includes an 1.6MHz Intel Core i5 Dual Core processor, 2GB DDR3 SDRAM and 64GB Flash SSD Drive. It's a brand new computer, left over from the previous release. At $699, it's the lowest price we've ever seen for this model (and any new-in-box MacBook for that matter).
Similarly, MacConnection also currently offers the lowest prices on the brand new 13-inch MacBook Pro with Retina Display (2.5GHz/8GB/128GB) at $1,559.00 ($140 off), the non-retina 15-inch MacBook Pro (2.3GHz/3GB/500GB HDD) at $1,649.00 ($150 off) and the latest 2.50GHz Dual Core i5 Mac mini at $549.00 ($50 off)
You can see the latest prices on all of Apple's Mac products in AppleInsider's Mac Price Guide, which is updated continuously.